BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
BTC decreased considerably yesterday, creating a bearish engulfing candlestick. It fell from a high of $57,200 to a low of $53,046, amounting to a total decrease of 7%.
It’s possible that the drop occurred in order to validate the descending resistance line from which BTC broke out prior.
The total crypto market cap ballooned to an all-time high of over $2.3 trillion on May 4 but has pulled back slightly to $2.28 trillion this morning. The majority of altcoins on the market are seeing green today, but there’s been a few notable developments that stand out above the rest.
Dogecoin (DOGE) has claimed the #4 position away from XRP in a 40% spike to a new all-time high just short of $0.70. However, in the past 24 hours, it’s been ETH Classic (ETC) that’s stolen the show. ETC is currently trading for $76.04, but it did manage to briefly clock a new all-time high price of $81.70. ETC is up 45% in the past 24 hours alone and has grown 126% in the past week.
Celsius (CEL) is the day’s biggest loser thus far. CEL has dropped by nearly 7.5% on the day. CEL appears to be having a tough time finding support since rapidly falling from its April 9 all-time high of $7.97. It’s back to trading at $5.80 today.
In other crypto news
- Coinbase has added the largest stablecoin by market cap, Tether (USDT), to its platform, and trading functionalities are already available.
- A new report on the crypto mining industry indicates that the market could grow by $2.8 billion between now and 2024.
- Crypto venture firm Multicoin Capital has unveiled the details of a new $100 million fund to invest in decentralized finance (DeFi) and non-fungible token (NFT) projects.
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